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How to charge client? For IM Strategy & Implementation

by Rudz69
13 replies
Hi Warriors,

I've closed a client and told them i'll get back to them with a quote.

Problem is I've never been in the situation where im being paid to strategize and implement them with the clients budget?

So do I charge them a once of fee for all the plans and where to go..
or
Do i charge them monthly untill it is launched? (can i still keep charging after the launch)

I was thinking that if I know their entire budget it can then be easier for me but I guess they depending on my to work out their budget for them + my cost??

Help would be apreciated
#charge #client #implementation #strategy
  • Profile picture of the author nik0
    Banned
    I guess you have to make a clear task list of what you're going to do.

    Are you going to rank them? Then a monthly retainer is quite standard.

    Are you going to take care of his paid media campaigns? Then a monthly fee is also standard as you need to track conversions and all.

    Are you only supplying promotional materials and one time outreach perhaps, then a one time fee seems more appropriate.

    You know what niche they are in so you can make a guess on the budget they have to spend, 10-20% of monthly revenue is quite standard I think. You can find out their revenue by checking public tax stats or trying to find more info about the company on the web like number employees and such and make some guesses based on that.

    A local freelance electrician probably has a revenue of about $10.000,-/month, $50 hour * 40 hours * 4 weeks = close to $10k and they sell some equipment, so for them you could come up with a $1k/month budget I suppose. Maybe inform if they have any other marketing running at the moment, if yes lower the budget to $500/month.
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  • Profile picture of the author JRJWrites
    Decide on an hourly rate you want to get paid- $10/hr, $20/hr, $30/hr, $50/ht whatever.

    Estimate how many hours the project will require. payrate * how many hours.

    Add 10% (just in case).

    Add the cost to implement.

    Tada!
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    • Profile picture of the author fmolina2010
      Originally Posted by jrjohn View Post

      Decide on an hourly rate you want to get paid- $10/hr, $20/hr, $30/hr, $50/ht whatever.

      Estimate how many hours the project will require. payrate * how many hours.

      Add 10% (just in case).

      Add the cost to implement.

      Tada!
      Good advice. Charge them the consulting fee. One time charge.

      Better yet, you hire people to implement the strategy that you'll give them and offer them that service. This way you can charge them monthly as well. Use the power of outsourcing!
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    • Profile picture of the author samkadya
      Originally Posted by jrjohn View Post

      Decide on an hourly rate you want to get paid- $10/hr, $20/hr, $30/hr, $50/ht whatever.

      Estimate how many hours the project will require. payrate * how many hours.

      Add 10% (just in case).

      Add the cost to implement.

      Tada!
      I agree 100%. Charging per hour is how most professionals charge.
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      • Profile picture of the author John Romaine
        Originally Posted by samkadya View Post

        I agree 100%. Charging per hour is how most professionals charge.
        I don't do anything "hourly". I sell packages.

        $5,000
        $10,000
        $2,500

        ...and so on.

        If I want to earn an "hourly rate", I'll go back to working a job.

        No thanks.
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  • Profile picture of the author John J M
    I'd suggest coming up with the rates you want for everyone rather than try to customize for everyone depending on their budget. Some people will have more money, some less, but you have decide on what your business model is going to look like first.
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  • Profile picture of the author agmccall
    Originally Posted by Rudz69 View Post

    Hi Warriors,

    I've closed a client and told them i'll get back to them with a quote.
    How did you "Close" a client and they have no idea what the cost will be??

    How did you "Close" a client if you do not know what you will charge??

    Looks like the blind leading the blind

    al
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    • Profile picture of the author nik0
      Banned
      Originally Posted by agmccall View Post

      How did you "Close" a client and they have no idea what the cost will be??

      How did you "Close" a client if you do not know what you will charge??

      Looks like the blind leading the blind

      al
      What a nonsense, he has to guess their budget, while it can be filled in in so many ways.
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    • Profile picture of the author K Mec
      Originally Posted by agmccall View Post

      How did you "Close" a client and they have no idea what the cost will be??

      How did you "Close" a client if you do not know what you will charge??

      Looks like the blind leading the blind

      al
      Right comment.

      If at all you have "closed" the client, search in market and check what others are charging for same task.
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    • Profile picture of the author JohnMcCabe
      As Al alluded to, if you're still in the quoting phase, you haven't closed anything. Once the contract is signed and the check clears, you can consider them "closed".

      I'm with John R. on this one. Charge for the job, not the hours. And change that "add 10%" to 50%. If things do go smoothly, you can always rebate what you think is fair.

      Back in the day, I had one instance where I charged hourly. I used to offer "pick my brain" sessions for $100/hr, half day minimum. If I had to travel at all, I got expenses on top of that. Of course, by that time I knew what I was talking about. You sound like you don't have that luxury.
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  • Profile picture of the author John Romaine
    Here's some advice.

    1. Don't underquote
    2. Don't take on the job unless you know what you're doing
    3. Always use contracts
    4. Provide inclusions, AND exclusions
    5. Get paid first
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  • Profile picture of the author John Romaine
    Originally Posted by Rudz69 View Post

    So do I charge them a once of fee for all the plans and where to go..
    or
    Do i charge them monthly untill it is launched? (can i still keep charging after the launch)
    Consider doing both.

    Charge them an initial fee to get started, then shift it over to an ongoing retainer. Put it under "ongoing care" or "support".

    Originally Posted by Rudz69 View Post

    I was thinking that if I know their entire budget it can then be easier for me but I guess they depending on my to work out their budget for them + my cost??
    If you've never done anything like this before (which I'm getting the impression that is the case) then take a hit and charge less than you would like.

    Why?

    Because you get paid to learn.

    1. They get your help.
    2. You get to learn, build and refine a system.

    That is critical.

    Jump through a few hoops, learn the process (help more people) then bump up your prices.

    This is what I do, and I'm now charging clients $1,000+ a day (in some cases, not all).
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